B borderline A market, is the cost to build worth the risk atm?

We deducted the cost of cleaning the home, the carpet, and some other drywall and paint damage to the property. 

We have been doing this constantly in Boise as we are such a high appreication market, but still more cost effective than CA.

But my other unit is less than a mile away with three units and it costs $100 a month for those three.it’s absurdly high. 

We're currently using it as a replacement to security deposits but I'm considering bringing back deposits since there are certain costs that Waivo doesn't cover.

-While rent would be more expensive month by month, the idea of being able to take my equity out of my home and also being able to reduce annual repair costs, property taxes, etc. does seem appealing to me. 

This is a great look cost preventative maintenance thing It also allows you to "inspect" your property periodically

Determine cost to renovate. 

A good PM can often get higher rent to offset their cost because they manage at arms length compared to the owner who may be worried about charging market because it’s “too high”.

This approach is cost-efficient and eliminates the complexities of dual-state filings.